Day One Late Tuesday Priced ~11,538M Share Public Offering of Common Stock @$13/Share
Portfolio Pulse from Charles Gross
Day One Biopharmaceuticals (NASDAQ:DAWN) has priced its underwritten public offering of 11,538,462 shares of common stock at $13.00 per share, expecting to raise approximately $150 million. The offering is set to close on June 9, 2023.
June 07, 2023 | 9:29 am
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Day One Biopharmaceuticals' public offering of 11.5M shares at $13/share aims to raise $150M, with the offering closing on June 9, 2023.
The public offering will increase the number of shares outstanding, which may dilute existing shareholders' ownership. However, the proceeds will provide additional capital for the company's operations and growth. The short-term impact on the stock price is neutral, as the market will likely have already priced in the offering.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100